How to Create a G/L

General Considerations:

•The G/L account will be created for the current year.

•When a Chart of Accounts for the following year has been created, the option to add the new G/L account to Next Year Chart of Accounts is available.

•The G/L account number may be entered directly in the Account # field. However, the use of G/L Element Builder is recommended for selecting both the G/L account and alias elements. The Alias # field does not allow manual input.

•The G/L Account Elements and Alias Elements are board specific, as setup in the Accounting Settings.

•The G/L account Description is automatically constructed by stringing together the dictionary abbreviations for each account element. It may be changed.

•Data entered in the Budget Variance (%) field determines the percentage the account is allowed to go over budget before the over budget warning is displayed during data entry.

•New G/L accounts are created Active and Unlocked.

•Account Types:

•Budget type is used for selection purposes in Reports. Once an account is flagged as a Budget account, the Budget Parent section will be displayed. Any data entry on an account flagged as Budget account will initiate the budget checking process and associated messages.

•Parent type is used for selection purposes in Reports. When an account is flagged as Parent, the Budget Parent section in the G/L Add screen is not visible. Restrictions for changing a Parent type: To select the Parent type, an account must be independent, a Budget account and have no transactions against it. To deselect the Parent type, the account must have no subordinate accounts.

•Revenue or Expense type plays a significant role in year end reporting. It is also used for selection purposes in Reports. A checked box indicates that the account is either a Revenue or Expense account. An unchecked box indicates that the account is either an Asset or Liability account. During the year end process, all accounts flagged as revenue/expense will have their revenue balance cleared to zero in the new year. The net total of all revenue and expense accounts are posted to the surplus/deficit account.

•Payroll type is used to identify a Payroll Account for the purposes of integration.

•Fixed Asset type is used to identify a Fixed Asset Account for the purposes of integration.

•Work Management type is used to identify a Work Management Account for the purposes of integration.

Use the following steps to create a G/L:

1. Click on the Business tab, click General Ledger, and select G/L Account Management.

2. Click on the Add G/L button.

3. If applicable, in the Add G/L screen, select the Add To Next Year's Chart selection box. This field is available for selection only when a Chart of Accounts for the following year has been created.

Note: The Current Year field will display the current year the user is signed into.

4. In the Account # field, click on the Search icon to open the G/L Element Builder for selecting the G/L Account and Alias Elements.

5. In the G/L Element Builder dialog box, under the G/L Elements section, click on each of the element drop-down menus to select an option.

6. In the Alias Elements section, click on each of the element drop-down menus to select an option.

7. Click on the Confirm button to accept the selection, or click on the Cancel button to return to the Add G/L screen.

8. If applicable, update the account Description.

9. Click on the HST Code drop-down menu to select an option.

10. If applicable, enter the Budget Variance %.

Note: The Account Status Active (selected) and Locked (not selected) selection boxes are read-only.

11. If applicable, in the Account Type section, select or deselect any of the following selection boxes: Budget, Fixed Asset, Parent, Payroll, Revenue or Expense, and/or Work Management.

Note: If the Budget selection box is selected the Budget Parent section will be displayed.

12. If applicable, if the Budget selection box is selected, enter a Budget Parent or click on the Search icon to search for a G/L Account.

Note: Refer to How to use G/L Search Wizard for more information on how to use this feature.

The Parent Description will auto-populate when the Budget Parent is entered and is read-only.

13. Click on the Save button to complete the G/L add process or click on the Cancel button to cancel this process and return to the G/L Account Management screen.